Saudi market performance since 2020 COVID-19 bottom

Tadawul trading screen 

Five years have passed since the Tadawul All-Share Index (TASI) reached the bottom in March 2020. The benchmark hit its lowest level since 2016, falling 5.2% to 5,960 points, as several stocks declined to their daily limit.

 

The market decline during that session was driven by the impact of the COVID-19 pandemic, as Saudi Arabia decided to intensify precautionary measures to curb the spread of the virus.

 

Closing at 11,854 points, the index has leapt 99%, or 5,894 points, compared to its bottom on March 16, 2020.

 

TASI performance since March 2020 bottom

 Period

March 16, 2020

March 16, 2025

Change (Points)

Change (%)

TASI

5,960

11,854

5,894%+

+99%
 

Most companies saw an increase compared to the 2020 low, led by Electrical Industries and Astra Industrial, which surged by 1,113% and 1,099%, respectively.  GO and Saudi Paper Manufacturing surged by approximately 900%.

 

Top gainers since March 16, 2020 bottom

Company

March 16, 2020*

March 16, 2025

Change

Electrical Industries

0.52

6.31

+1,113%

Astra

13.50

161.80

+1,099%

GO

9.37

93.80

+901%

Saudi Paper

5.86

58.50

+899%

Al Rajhi Takaful

20.04

150.80

+653%

Saudi Re

6.26

46.75

+646%

MIS

21.39

133.80

+526%

MESC

7.10

40.20

+466%

NCLE

31.90

166.00

+420%

Naseej

19.53

98.30

+403%

Aldrees

28.90

143.00

+395%

Maaden

9.34

46.00

+393%

Saudi Steel Pipe

14.00

63.30

+352%

Saudi Chemical

1.98

8.95

+352%

Bawan

10.60

47.90

+352%

Care

37.95

168.80

+345%

Chubb Arabia

10.38

45.30

+336%

Arabian Pipes

2.64

11.02

+317%

SAIC

8.17

32.95

+303%

Dallah Healthcare

35.92

137.80

+284%

SASCO

18.75

71.60

+282%

Zoujaj

12.98

49.40

+281%

MEPCO

8.24

30.45

+270%

Arab Sea

1.65

6.03

+265%

Al Baha

0.11

0.38

+262%

Shaker

8.30

29.80

+259%

SRMG

54.50

189.60

+248%

Al-Babtain

12.33

42.30

+243%

Shams

0.25

0.84

+242%

Leejam

47.00

159.80

+240%
*The capital changes were taken into account.

 

Amana Insurance was among the least gainers, with an increase of just 0.3%, followed by Jarir and Petro Rabigh, each rising 1%. SABIC and Aramco added 4% and 13%, respectively, as shown in the table below:

 

Least gainers since March 16, 2020 bottom

Company

March 16, 2020*

March 16, 2025

Change

Amana Insurance

9.72

9.75

+0.3%

Jarir

12.44

12.58

+1%

Petro Rabigh

6.95

7.05

+1%

Al Sagr

14.27

14.62

+2%

Bawan

2.30

2.36

+3%

Najran Cement

8.65

8.98

+4%

SABIC

62.00

64.50

+4%

Al Jouf Cement

10.04

10.50

+5%

Northern Cement

8.69

9.10

+5%

Emaar EC

13.98

14.72

+5%

Ash-Sharqiyah

18.54

19.62

+6%

Saudi Electricity

14.80

15.90

+7%

Saudi Fisheries

98.02

106.20

+8%

Arabian Cement

23.80

25.80

+8%

Cenomi Centers

18.70

20.30

+9%

Tasnee

8.33

9.26

+11%

SIIG

14.00

15.62

+12%

Qassim Cement

46.00

51.40

+12%

Saudi Aramco

22.98

26.05

+13%

Saudi Printing

9.66

11.10

+15%
*The capital changes were taken into account.

 

On the other hand, 14 companies declined compared to the March 2020 bottom, led by Cenomi Retail with a drop of 56%, followed by Herfy Foods that dipped 46%.

 

Saudi Kayan, Yansab, and Advanced Petrochemical fell between 6% and 15%, as follows:

 

Top losers since March 16, 2020 bottom

Company

March 16, 2020*

March 16, 2025

Change

Cenomi Retail

29.64

13.12

(56%)

Herfy

41.00

21.96

(46%)

Southern Cement

48.70

31.50

(35%)

Enaya

16.00

11.04

(31%)

Saudi Kayan

7.09

6.01

(15%)

Yansab

39.10

34.25

(12%)

ACIG

16.72

14.74

(12%)

Thimar

48.95

43.70

(11%)

Takween

10.04

9.36

(7%)

Advanced

32.28

30.30

(6%)

Yanbu Cement

24.00

22.90

(5%)

Saudi Cement

43.80

41.95

(4%)

SVCP

36.95

36.10

(2%)

SACO

34.00

33.70

(1%)
*The capital changes were taken into account.

 

REITs

 

Only three REITs moved higher than the March 2020 bottom, while 14 others moved lower.

 

AlJazira REIT topped the gainers with a rise of 52%, followed by Al Maather REIT (17%), and Bonyan REIT (8%).

 

On the other hand, Musharaka REIT plunged 48%, followed by Alkhabeer REIT (46%). Both Derayah REIT and SICO Saudi REIT fell by more than 42%, as follows:

 

REITs performance since March 16, 2020 bottom

Fund

March 16, 2020

March 16, 2025

Change

Aljazira REIT

9.60

14.62

52%

Al Maather REIT

7.91

9.23

17%

Bonyan REIT

8.70

9.39

8%

Jadwa REIT Saudi

10.02

9.94

(1%)

Jadwa REIT Al Haramain

6.18

6.13

(1%)

Al Rajhi REIT

8.35

8.15

(2%)

Taleem REIT

10.58

10.12

(4%)

SEDCO Capital REIT

8.50

7.56

(11%)

Riyad REIT

7.50

6.17

(18%)

AlAhli REIT (1)

9.00

7.07

(21%)

Alinma Retail REIT

6.90

4.59

(33%)

MEFIC REIT

6.26

3.90

(38%)

Mulkia REIT

8.59

5.02

(42%)

SICO Saudi REIT

6.76

3.90

(42%)

Derayah REIT

9.85

5.66

(43%)

Alkhabeer REIT

10.50

5.71

(46%)

Musharaka REIT

8.38

4.34

(48%)

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